NAC645F.210. Documentation required with application for license; effect of failure to respond to written request for information.

     1. If applicable, an applicant must submit with the application for a license as a covered service provider, foreclosure consultant or loan modification consultant:

     (a) If the applicant is a corporation, a copy of:

          (1) Its articles of incorporation and its bylaws; and

          (2) If applicable, its balance sheet and a statement of the profit and loss of the corporation for the 2 years immediately preceding the year of the application.

     (b) If the applicant is a partnership or joint venture, a copy of the agreement of partnership or joint venture and the financial statements of the general partners for the 2 years immediately preceding the year of the application.

     (c) If the applicant is a corporation being organized, a copy of its proposed articles of incorporation and its bylaws.

     (d) If the applicant is a limited-liability company, a copy of:

          (1) Its articles of organization and operating agreement; and

          (2) If applicable, a statement of the profit and loss of the limited-liability company for the 2 years immediately preceding the year of the application.

     2. Before the issuance of a license, an applicant must submit:

     (a) If applicable, a copy of the certificate filed by the covered service provider, foreclosure consultant or loan modification consultant pursuant to chapter 602 of NRS indicating the fictitious name of the covered service provider, foreclosure consultant or loan modification consultant;

     (b) If applicable, supporting documentation that the applicant is in good standing with the Secretary of State, and the most recent list of its officers, members or managers, and registered agents that is filed with the Secretary of State;

     (c) A copy of a lease or other document which indicates the address of the place of business and telephone number of the applicant;

     (d) If applicable, a copy of the applicant’s business license or, if the applicant has not yet obtained a business license, the applicant’s application for such a license;

     (e) If applicable, a copy of the applicant’s state business license or, if the applicant has not yet obtained a state business license, the applicant’s application for such a license;

     (f) If applicable, a bond or other substitute security required by NAC 645F.605 or 645F.610;

     (g) If the applicant is a natural person, documentation, acceptable to the Commissioner, that the applicant has completed the educational requirements for initial licensure required by NAC 645F.500;

     (h) If the applicant is not a natural person, documentation, acceptable to the Commissioner, that all applicable persons have completed the educational requirements for initial licensure required by NAC 645F.500;

     (i) If the applicant is a natural person and will be an independent licensee, documentation, acceptable to the Commissioner, that the applicant has at least 2 years of verifiable experience working in the real estate, mortgage, foreclosure or loan modification industries or applicable financial or legal fields;

     (j) If the applicant is not a natural person and will be an independent licensee, documentation, acceptable to the Commissioner, that each proposed qualified employee for the applicant has at least 2 years of verifiable experience working in the real estate, mortgage, foreclosure or loan modification industries or applicable financial or legal fields; and

     (k) Any other information deemed necessary by the Commissioner to complete the application.

     3. If an applicant has received a letter from the Commissioner which imposes additional requirements that the applicant must satisfy to obtain a license as a covered service provider, foreclosure consultant or loan modification consultant, the applicant must comply with those requirements within 30 days after the date on which the letter was issued by the Commissioner or such other time as provided in the letter. If the applicant does not satisfy all additional requirements set forth in the letter within the period prescribed in this subsection, the application will be deemed to have been abandoned and the applicant must reapply to obtain a license. The Commissioner may, for good cause, extend the 30-day or other period prescribed in this subsection.

     4. If an applicant does not maintain an office in this State, or if its corporate office is located outside of this State, the applicant must sign an authorization and agreement that any actions brought by the Commissioner related to this chapter or chapter 645F of NRS will be brought in the applicable court of the State of Nevada.

     (Added to NAC by Comm’r of Mortgage Lending by R052-09, eff. 8-25-2009)